If you've been paying attention to the news, you may have heard that 2012 was the hottest year on record. Here is the analysis by Climate Central. Here is the chart that shows how much of an outlier 2012 is:
Meanwhile, Joseph Stiglitz has been arguing that the most serious long term economic threat is in fact climate change. He is not alone in the view. Here are some data points about how much climate change might cost. It estimates that the cost could be about $3.8B. I think they are really low balling it. For one, Tropical Storm Sandy is likely to end up costing over $50BN (some estimates put it at over $100BN) alone.
The question that Stiglitz and others are starting to raise is whether the focus should shift from trying to stop climate change (it is already a reality) to actually retrofitting the economy to deal with the new changed climate. Provocative question!
The question that Stiglitz and others are starting to raise is whether the focus should shift from trying to stop climate change (it is already a reality) to actually retrofitting the economy to deal with the new changed climate. Provocative question!
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